Sevastopol to receive $67.4 million

SEVASTOPOL, March 27. /ITAR-TASS/. The legislative assembly of Sevastopol decided at its special session to sign an agreement with the Russian Finance Ministry on additional financial support as a subsidy from the federal budget for the city. Such subsidies are provided to ensure balanced budgets in Russian regions.

In accordance with the agreement, 2.4 billion roubles ($67.4 mln) will be provided in 2014. The first tranche of 800 mln rbls ($22,5 mln) will be transferred in ten days after the agreement is signed.

“The subsidy is provided for us, taking into account that we have assumed financing of all the state power bodies during the transitional period. There is already a resolution of the govenment of the Russian Federation. So, we need to forward the agreement to the Finance Ministry already today," deputy head of the Sevastopol state administration Elimdar Akhtemov told the assembly.